The $120 support zone fallout threatens a downfall in the AXS coin price to the $80 mark upon the retest. Hence, an opportunity to buy the dip arises.

One of the most trending crypto gaming tokens, AXS, faces correction as the extremely bullish year ends. Moreover, the Omicron variant infuses fear among the mind of investors resulting in the overall market correction.

Read more to know more about the entry opportunities in the Axie infinity token.
<h2>Past Performance of AXS</h2>
AS THE SELLING PRESSURE INCREASES, the AXS coin <a href="https://www.cryptoknowmics.com/news/axie-infinity-axs-price-prediction-2021-2025-should-you-buy-the-fall/">price falls</a> below the $120 support zone in the daily chart. It is evident by the continuous formation of the bearish engulfing candlesticks. Hence, traders can catch a downtrend move once the price retests the bearish fallout. 

<img src="https://s3.tradingview.com/snapshots/5/5GPiSH4w.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/5GPiSH4w/">AXS/USD Daily Chart</a>
<h2>AXS Technical Analysis</h2>
AXS token is extremely useful in the Axie Infinity platform. AXS token holders can utilize their tokens for voting or stake and payment for any service. One of the fascinating aspects of the token is that it's likely to increase due to the growing quantity of users and the total revenues.

The price action indicates that after the $120 support, the following support zones are at the $80 and $50 mark. And, on the opposite end, the resistance levels are at the $140 and $160 mark.

The RSI slope touches the oversold zone boundary at the 30 percent mark in the daily chart. Hence, it indicates the price is oversold. Therefore, a bullish reversal in AXS coin price is possible to retest the $120 support zone.

The MACD and slow line in the daily chart maintains a downside movement after the bearish crossover. Moreover, the intensity of the bearish histograms is increasing. Therefore, the indicator signals a selling opportunity. 
<h2>Upcoming Trend</h2>
The fallout of the critical support zone of the $120 mark officially starts a downtrend in the AXS coin price. Hence, investors who missed out on the last opportunity to buy it before the uptrend can finally get their hands on the token at lower prices.

Moreover, the price will soon retest the $120 mark as the selling pressure reaches the saturation level. However, a downfall to the $80 mark is plausible upon retest.

AXS Technical Analysis: Bears Warn A Downfall To $80

The $120 support zone fallout threatens a downfall in the AXS coin price to the $80 mark upon the retest. Hence, an opportunity to buy the dip arises.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

AXS Technical Analysis: Bears Warn A Downfall To $80

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